NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
CALGARY, Alberta, March 23, 2026 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the "Company" or "Traction") is pleased to announce the partial conversion and repayment of the unsecured convertible debentures of the Company (the "Convertible Debentures") in the aggregate amount of C$450,000, out of the total principal amount of C$500,000 (please see news release dated January 16, 2026).
In accordance with the terms of the Convertible Debentures, the Company issued an aggregate of 1,071,429 units of the Company ("Units") at a conversion price of $0.42 per Unit. Each Unit is comprised of one Common Share and one Common Share purchase warrant (each, a "Warrant"), with each Warrant entitling the holder to acquire one Common Share at an exercise price equal to $0.55 for a period of 24 months from the date of issuance.
All securities issued are subject to a statutory and CSE four month and one day hold period.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Traction Uranium Corp.
Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) is in the business of mineral exploration and the development of discovery prospects in Canada, including its uranium project in the world-renowned Athabasca Region and the Aurora Project with Cosa Resources Corp. in northern Saskatchewan.
We invite you to find out more about our exploration-stage activities across Canada's Western region at https://tractionuranium.com/.
On Behalf of The Board of Directors
Jared Suchan
CEO and Director
(604) 425-2271
info@tractionuranium.com
Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events.
In particular, this press release contains forward-looking information relating to, among other things, the Offering, including the expected use of proceeds therefrom. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. Although such statements are based on reasonable assumptions of the Company's management, there can be no assurance that any conclusions or forecasts will prove to be accurate.
Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include: risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined and the risk that exploration and development activities will cost more than the amount budgeted for such activities by the Company; access and supply risks; operational risks; regulatory risks, including risks relating to the acquisition of the necessary licenses and permits; and financing, capitalization and liquidity risks. The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
The CSE has neither approved nor disapproved the information contained herein.
